An Increase in Autonomous Investment in a Small Open Economy

question 62

Multiple Choice

An increase in autonomous investment in a small open economy will cause ________.

• A)a trade surplus to shrink
• B)a trade deficit to increase
• C)lower net capital outflows
• D)all of the above
• E)none of the above

Differentiate between independent and executive agencies and their focus areas.

Understand the roles and limitations of the United States Congress and the President in relation to administrative agencies.

Comprehend the powers and limitations of administrative agencies, including rulemaking, adjudication, and enforcement.

Understand the judicial review process for administrative agency decisions.

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Definitions:

Public Good

A public good is a product that one individual can consume without reducing its availability to another individual and from which no one is excluded.

Rival Good

A type of good where one person's consumption of the good reduces the ability of another person to consume the same good.

Exclusive Good

A product or service that is available only to certain people or groups, often due to high price or scarcity.

Public Good

A good or service offered to every member of a society for free, either by public authorities or by a private organization or person, without seeking profit.